3 things to consider when buying a home with a growing family

Planning on having kids? More kids? Chris Siegfried of HomeStreet bank JUST had a kid AND bought a house, so we discuss what to look for when you're thinking of buying a home with a growing family.

If you're in the market for buying a home AND in the market for starting a family in the near future, there are several things you need to look out for and be in consideration as you search for a home. Chris Siegfried of Homestreet Bank is VERY well qualified to talk about this as he just had a son a little over a year ago AND bought a house. We learn from his experiences and provide some tips for your search.

SUMMARY:

1. HOW MUCH CAN YOU REALLY AFFORD?

It's important to sit down with a loan officer to go over budget and your plans.

More importantly, be aware of the other costs; vacation, daycare, nanny, etc.

If you're not taking these into consideration, this could put a lot of pressure on you.

2. LOCATION

Depending on your goals; location can be important.

"For us, we were able to sacrifice on size for the short term while Asher gets a little bit older."

You may sacrifice size for location, depending on your budget.

Safety wise- are you near a park? On a busy street? Have your agent show you "family friendly" houses in the appropriate neighborhoods.

3. CAN YOU GROW INTO IT?

"When we were looking for a house, our plan wasn't to be there long-long term, so we're closer to work and sacrificed on size."

Long term? Is that the best place for you? Are you planning on having more kids? Do you want more space for the kids?

Take into consideration if you'll want a bigger house down the road. If so, do you need to search outside of the city?

Is there enough space? Basement? Where's the kids bedroom relative to the master?